EUR/JPY Price Analysis: Eyes top of Ichimoku cloud on risk-appetite, buyers target 158.00

EUR/JPY trades with a 0.47% gain, bouncing from daily lows of 156.98.
Technical indicators suggest potential upward movement, targeting the October 12 high.
A successful breach of the Kumo top could pave the way to the YTD high of 159.76.

Christian Borjon Valencia FXStreet

The EUR/JPY pair tests the top of the Ichimoku Cloud (Kumo), at around 157.80, amid risk sentiment improvement, as a bullish-engulfing chart pattern looms. At the time of writing, the cross-pair prints gains of 0.47%, after bouncing off daily lows of 156.98.

From a technical standpoint, the EUR/JPY remains in consolidation, threatening to crack the top of the Kumo, which would expose the October 12 high of 158.61. A breach of that area would open the door to challenge the year-to-date (YTD) high of 159.76.

Conversely, if EUR/JPY sellers moved in, the first support would be the Tenkan-Sen line at 157.21. Once cleared, the next support would be the Senkou-Span B at 157.05, before challenging the 157.00 figure. If the cross-pair drops below those levels, the bottom of the Kumo would be up for grabs at 155.60/65, ahead of the October 3 swing low of 154.34.

EUR/JPY Price Action – Daily chart

EUR/JPY Technical Levels

EUR/JPY

Overview
Today last price	157.8
Today Daily Change	0.61
Today Daily Change %	0.39
Today daily open	157.19

Trends
Daily SMA20	157.48
Daily SMA50	157.89
Daily SMA100	156.2
Daily SMA200	150.3

Levels
Previous Daily High	158.05
Previous Daily Low	157.05
Previous Weekly High	158.61
Previous Weekly Low	156.51
Previous Monthly High	158.66
Previous Monthly Low	156.58
Daily Fibonacci 38.2%	157.43
Daily Fibonacci 61.8%	157.67
Daily Pivot Point S1	156.81
Daily Pivot Point S2	156.43
Daily Pivot Point S3	155.81
Daily Pivot Point R1	157.81
Daily Pivot Point R2	158.43
Daily Pivot Point R3	158.81

Author

Christian Borjon Valencia

FXStreet

Markets analyst, news editor, and trading instructor with over 14 years of experience across FX, commodities, US equity indices, and global macro markets.

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